Price bar overlap

I'm planning to explain this more soon but this is a start. Notice how we have what I call an "air pocket" in between the high of the first green bar from the left and the low of the last green bar on the right.

These are 5 minute bars and I will include the context chart

This thread will attempt to expand on the concept of "mini singles" that we have covered before from the one minute chart. I have snapped a horizontal line to represent this "Pocket"

I was expecting acceleration below the key 50 number and also hoping the triple support would have brought in more sellers...it didn't happen...but that was the reasoning for a selloff...somebody had other plans

Thanks, BruseM, will read through posted forum link, did look at first page and noticed mention of Pivot.

here's a quicky (I have no time right now), only because I happened to have done an historical study on days of no pp tag from above (L yest was greater than PP yest)

if AH up, expect resistance at R1 (for today R1 based on RTH only is 1158.75. target within 3 ticks of PP (PP=1152.00 today)

also, based on over 10 years of continuous contract data, trade days following No PP tag from above have 72% chance of having a range (RTH H - L) LESS THAN 5 day moving average of range, 5 day moving average of RTH range is 10 points

I don't have crap like this everyday, but after I saw the linked comment and Pivot Points were mentioned, I was able to find the study I did.

study was irrespective of whether trade day was during week of quaterly expirations.

BruceM,
when you get a chance. ES just had a parabolic intraday move up near 1:30 ET, it created air. Is there some sort of pattern that you look for to put on a counter trade (a sell in this case), I also see that there were TRIPS (Lows) AT 61.75, is that target?